Common use of Non-Encumbrance Clause in Contracts

Non-Encumbrance. Optionee hereby undertakes that it will not create or permit to exist any right of mortgage, pledge, usufruct or other security interest or restriction whatsoever and any arrest, charge, attachment, option or lien or any similar concept that limits free and unrestricted title and/or use, under any applicable jurisdiction (the 'Encumbrance') over all or any part of the Option nor assign or otherwise purport to deal with the beneficial interest therein or any other right relating thereto separate from the legal ownership of such Option. Optionee and Company acknowledge that other limitations, restrictions, terms and conditions applicable to Agreement, the Option and Option Shares as (elsewhere) described in this Agreement, Company's Articles of Association (as amended), as well as the attached Statement of Terms and Conditions apply.

Non-Encumbrance. Optionee hereby undertakes that it will not create or permit to exist any right of mortgage, pledge, usufruct or other security interest or restriction whatsoever and any arrest, charge, attachment, option or lien or any similar concept that limits free and unrestricted title and/or use, under any applicable jurisdiction (the 'Encumbrance') over all or any part of the Option nor assign or otherwise purport to deal with the beneficial interest therein or any other right relating thereto separate from the legal ownership of such Option. Optionee Opitonee and Company acknowledge that other limitations, restrictions, terms and conditions applicable to Agreement, the Option and Option Shares as (elsewhere) described in this Agreement, Company's Articles of Association (as amended), as well as the attached Statement of Terms and Conditions apply.